Latvia: Peat Market 2022

Peat Market Size in Latvia

After two years of decline, the Latvian peat market increased by X% to $X in 2021. In general, consumption recorded a abrupt decline. The most prominent rate of growth was recorded in 2009 when the market value increased by X% year-to-year. Peat consumption peaked at $X in 2011; however, from 2012 to 2021, consumption remained at a lower figure.

Peat Production in Latvia

In value terms, peat production rose remarkably to $X in 2021 estimated in export prices. Over the period under review, the total production indicated a buoyant increase from 2007 to 2021: its value increased at an average annual rate of +X% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain the momentum.

Peat Exports

Exports from Latvia

For the sixth consecutive year, Latvia recorded growth in shipments abroad of peat, which increased by X% to X tons in 2021. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. Over the period under review, exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, peat exports soared to $X in 2021. In general, exports showed a resilient increase. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main destinations of peat exports from Latvia, together accounting for X% of total exports. Belgium, China, Poland, Lithuania, Spain, Ireland, South Korea, the Czech Republic, Japan and Hungary lagged somewhat behind, together comprising a further X 2007 to 2020, the biggest increases were in South Korea, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and China ($X) constituted the largest markets for peat exported from Latvia worldwide, together accounting for X% of total exports.

China recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average peat export price amounted to $X per ton, which is down by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% y-o-y. The export price peaked at $X per ton in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced more modest paces of growth.

Peat Imports

Imports into Latvia

In 2021, overseas purchases of peat increased by X% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, peat imports surged to $X in 2021. In general, imports recorded a strong increase. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Estonia (X tons), Lithuania (X tons) and Belarus (X tons) were the main suppliers of peat imports to Latvia, together accounting for X% of total imports. These countries were followed by Russia, Germany and the Czech Republic, which together accounted for a further X 2007 to 2020, the biggest increases were in Russia, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Lithuania ($X) and Russia ($X) appeared to be the largest peat suppliers to Latvia, with a combined X% share of total imports.

Russia saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average peat import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. from 2010 to 2020, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Lithuania, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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